Omaha, NE Multifamily Market Report | CBRE | Q1 2026

Market Overview

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Omaha's multifamily market showed signs of stabilization in Q1 2026, with vacancy ticking down 30 basis points quarter-over-quarter to 8.0% as no new units were delivered during the period, easing supply pressure on existing inventory. Average asking rents rose to $1,300 per unit, up 0.9% from the prior quarter and 2.1% year-over-year, with the Southwest submarket commanding the highest rents at $1,587 per unit. The Downtown and Central submarkets account for the bulk of the active construction pipeline, which stands at 3,477 units across 22 properties, concentrated in the urban core where longer-term demand fundamentals remain intact.

‍About CBRE

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CBRE is a global commercial real estate services and investment firm operating across major U.S. and international markets. Their Q1 2026 Omaha multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity by submarket to help owners, developers, and investors evaluate market conditions and timing. To read the full report, click here.